Get all the information you can. Make sure it's the right thing for you. I've just come out of it, but lost the house in the process and now AIB are changing the goalposts in terms of not clearing the outstanding debt due to a deceased co-borrower, it's been a bit of a sh!tshow but I think I may be an exception when I see the positive outcomes some people get.
A PIP is the way to go but be very sure of your own final decision on things.